Alco CEO Richard Wilson out; interim chief named

Coppell, Texas – Alco Stores on Friday said that its CEO of the past four years, Richard Wilson, has left the regional discounter by mutual agreement. Board director Stanley B. Latacha assumes the role of interim CEO, effective immediately. The changes were announced days after the discounter elected an entirely new slate of directors.



Latacha has more than 30 years of retail experience, including overseeing turnarounds at several chains, more recently Pamida.



"I am honored with the board of directors' trust in leading the team at Alco and working with all of its stakeholders in bringing positive hands-on change to the business," Latacha stated. "With the longstanding goodwill of Alco in the communities it serves, along with the hard work and dedication of the Company's staff and team members and the active support of the board, I am confident that together we can make impactful improvements to the business."



The retailer said that the departed Wilson was instrumental in professionalizing the Alco staff, overseeing the company's move to Texas and leading the company through a challenging retail environment.



"The shareholders have positioned Alco with strong leadership, expertise and a commitment to build on Alco's legacy of serving rural communities," said Wilson. "It has been an honor and a privilege to have worked with the dedicated team of Alco associates. I extend my sincerest appreciation for their commitment and service."